Survey reveals client satisfaction and predicts industry growth

Source: Exec Digital USA

Date :6/13/2007 9:07:45 AM

Consultants rank higher in trustworthiness than sales representatives, corporate executives, attorneys and journalists.

The majority of executives, 82 percent, who retain consultants as part of their job, rated the client-consultant experience as positive. This is according to a new survey co-sponsored by American Management Association (AMA) and The Institute of Management Consultants (IMC USA) and conducted by Consulting Intelligence (CI).

The Consulting SurveySM asked senior-level managers, CEOs and other business professionals to rate their overall experiences working with consultants. A strong sense of client satisfaction, combined with the fact that a quarter of the respondents reported spending over $1 million on external consultants each year, leads industry experts to predict continued growth and upsurge in the field.

“It is a very good time for the consulting marketplace. This data reaffirms our expectations of continued growth and improved client-consultant relationships across the industry,” says Bob Brown, managing director of Consulting Intelligence, LLC, who will present the complete survey findings at the ConsultingWorld™ conference later this month. “In addition, the survey offers consultants the unique opportunity to get inside the minds of their clients and learn about their expectations on issues such as budgeting, performance, ethics and how they view the ideal consultant.”

According to the respondents, the top-five qualities of the ideal consultant are competence, effective communication, accountability, experience and integrity.

Survey results also reveal that the consulting profession is viewed as trustworthy. When respondents were asked to rank a list of 10 representative professions from most trustworthy to least trustworthy, they ranked consulting as the 5th most trustworthy profession, behind nurses, doctors, teachers and accountants. Rounding out the list of professions were sales representatives, corporate executives, attorneys, journalists and politicians.

The complete results of The Consulting Survey, which delves into various aspects of the client-consultant relationship, will be unveiled at the first annual ConsultingWorld conference in Lake Buena Vista, FL, June 24–26. This premier event for consultants is co-sponsored by American Management Association and The Institute of Management Consultants.

“The ConsultingWorld conference presents an opportunity for consultants to gain invaluable insights into how to build more effective client-consulting relationships from top professionals in the industry,” says IMC USA National Board Chair Mark Haas, CMC. “Attendees will have access to the latest research and innovation available, as well as the opportunity to network with the top names in the field.”

“This conference represents the importance of ongoing training and education to improve individual and corporate performance at all levels, including consultants who tend to be seasoned professionals at the top of their craft,” says Pat Leonard, AMA executive vice president for U.S. Management Education. “American Management Association’s involvement in this program demonstrates our commitment to helping professionals at every stage of their career maximize their skills and potential.”

The ConsultingWorld conference will feature more than a dozen presentations, including two keynote addresses from leading industry experts, in-depth workshops and panel discussions that will focus on real-world consulting, management and other business topics. These include: technological advancements in consulting, consulting across the generational mix, client relations, marketing insights, networking and more.